Fuel Management

Retail Gasoline and Diesel Prices Climb Higher

September 30, 2007
• by Staff

WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline increased 2.5 cents to reach $2.812 per gallon, as of Sept. 24. That's 43.4 cents higher than last year, reported the Energy Department's Energy Information Administration (EIA).
All U.S. regions saw price increases, except the Rocky Mountains where retail regular gasoline prices fell by 0.7 cent to $2.817 per gallon. The East Coast tallied a 3.7-cent increase, landing at $2.769 per gallon. Midwest prices inched up by 0.2 cent to $2.861 per gallon, 65.4 cents per gallon above last year, the EIA said.
Prices for the Gulf Coast rose 2.6 cents to settle at $2.705 per gallon, the lowest regional price. West Coast prices jumped 4.9 cents to $2.909 per gallon, the highest in the country. The average price for regular grade in California was $2.961 per gallon, up 5.7 cents from the previous week and 20.1 cents per gallon over the previous year.
Topping the $3 mark for the first time since Aug. 28, 2006, retail diesel prices rose for the fourth straight week to land at $3.032 per gallon. The price was 6.8 cents more than the previous week and 43.7 cents per gallon higher than this time last year.
Diesel prices increased in all regions of the country. The largest increase occurred on the East Coast where the price jumped 7.6 cents to $3.037 per gallon. The Gulf Coast saw an increase of 6.8 cents to reach $2.971 per gallon. The Rocky Mountain region's diesel price increased 5.6 cents to $3.028 per gallon. Diesel prices in the Midwest and on the West Coast both settled at $3.054 per gallon, the highest regional prices in the country. California diesel prices were up 7.0 cents to reach $3.093 per gallon, the EIA said.

Fuel Management

The multiple-year agreement specifies that WEX will provide Marathon Petroleum Corp. with sales and marketing resources to further drive Marathon’s retail growth. It follows an initial five-year deal between the companies.

The cost of gasoline has been on the rise this year. These higher gas prices could pose a direct threat to a fleet’s overall costs. Implementing technologies and considering alternative fuel vehicles could help curb costs.

ARI and WEX, Inc. are celebrating their long-running relationship with co-branded fuel cards for fleet customers of the fleet management company, the payments solution provider announced. The companies have been in business together for 25 years.

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